Kyiv, June 14 (Interfax-Ukraine) - Ukraine's railway sector is in need of quick and sizable investments for modernization and development, as the basic funds are 90% deteriorated, the general director of the State Rail Transport Administration (Ukrzaliznytsia), Serhiy Bolobolin, said during the international business conference in Kyiv on Friday.
“Today the main funds are worn out, primarily pulled rolling stock, by nearly 90%. By way of example, I can mention our main railways, Donetsk and Prydniprovska, which account for roughly two thirds of Ukraine’s cargo turnover. Electric locomotives that work on these railways have virtually double-digit resource depreciation,” Bolobolin said.
Structural reorganization the government plans will make it possible to establish a more transparent structure for the railway business, which will increase investment attractiveness, he said.
“I think that the successful use of the potential of Ukraine’s railways, the making of effective decisions associated with the sector’s reformation, will allow us to fully meet the needs of the Ukrainian economy for cargo-hauling, overcome the transit situation, and attract additional cargo volumes,” Bolobolin said.
